Payments will start landing in bank accounts this week
Millions of Nationwide customers will get bonus payments.
Over 12 million Nationwide customers can look forward to £50 bonus payments landing in their bank accounts from this week.
The building society has announced the massive giveaway, with payments to start arriving from this Wednesday, April 9.
Most Nationwide customers will get the cash boost – but not everyone will qualify.
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The building society has set out the terms of who will get bonus payments.
Money will go to those who had a savings or current account, or mortgage, at the end of last September.
Crucially, they must have made at least one transaction on their current account or savings, or had a balance of at least £100 in their current account, savings or mortgage in the 12 months to the end of September 2024.
This essentially means accounts had to be active and being used in that period to September last year.
Those with dormant accounts no longer being used will not be included.
In addition, customers must still have their accounts or mortgage at the time the payment is made during April.
So anyone who has quit Nationwide over the last few months will miss out, as will new customers who have joined in recent weeks and months.
Britain’s biggest building society announced the bonus payments for customers following its takeover of Virgin Money.
Debbie Crosbie, Nationwide CEO, said: “Nationwide became even stronger when it bought Virgin Money and we are already improving services for its customers.
“The Big Nationwide Thank You recognises the role our members played in building the financial strength that made the deal possible.
“It’s another of the very real benefits of being a member of Nationwide and our modern mutual model.”